Americas

Mexican state owned oil company Pemex (Petróleos Mexicanos) raised €3.15bn ($3.722bn) across four tranches on Wednesday to provide some relief to a bruised and battered Lat Am bond market.

Pemex’s annual European outing on Wednesday came as a pleasant surprise to many Lat Am bond bankers, showing Lat Am issuers still have significant pulling power. But the euro market is unlikely to pull more borrowers from the region, even as dollar funding costs rocket.

Three big hitters from the exchange, index creation and asset management worlds have collaborated to launch futures contracts referencing indices for the US corporate bond markets.

US pharmaceuticals company Mylan made its third visit to the euro corporate bond market in three years on Wednesday when it sold a €500m seven year deal with a €1.3bn order book.

Unigel, the Brazilian petrochemicals company, completed an inaugural international bond sale on Tuesday in a deal with a highly targeted distribution after drastically sweetening terms for investors.

Royal Bank of Scotland was selling new senior unsecured bonds in the dollar market on Tuesday, building on a series of success prints from European financial institutions.

Peruvian agricultural company Camposol cancelled a proposed tender offer for existing bonds on Monday evening after failing to raise the debt required to finance the buyback.

Unigel, the Brazilian petrochemicals company, has set initial price thoughts on a planned inaugural international bond two months after it aborted a first attempt.

Bank of America Merrill Lynch dropped its issuance forecast for this year by $20bn on Monday, in the middle of what is usually the busiest month in the primary market calendar for US high yield bonds.

CME Group on Monday launched two new indices to calculate the price of ether, the second most popular cryptocurrency after bitcoin by market capitalisation.

GlobalCapital is pleased to announce the winners for this year’s Americas Derivatives Awards. The results were announced at a gala dinner at the Metropolitan Club in New York on Thursday. The awards honour the firms and innovations that have pushed the derivatives market forward over the last 12 months.

BMW Finance had to negotiate its way through a busy corporate bond market on Monday as it sold a €1.75bn 4.5 and eight year dual tranche offering. It had to pay new issue premiums of around 8bp-10bp but saw strong demand.